EXERCICE #2 Assume that a company purchases a depreciable asset on January 1 for $10,000. The asset has a four-year life and will have zero residual value at the end of the fourth year. Assume that the double-declining-balance method will be used for tax purposes and the straight-line method will be used for the financial statement to be given to the stockholders. Also assume that the tax rate is 40%. Required: How much will the tax savings be in the first year as a result of using the accelerated method of depreciation?